Mackenzie Financial Corp Has $1.68 Million Stock Holdings in SpartanNash Company (NASDAQ:SPTN)

Key Points

• Mackenzie Financial Corp increased its stake in SpartanNash Company by 133.4% in the first quarter, acquiring an additional 47,397 shares to bring its total holdings to 82,915 shares valued at approximately $1.68 million.
• Analysis from various equities analysts included a downgrade of SpartanNash shares from "buy" to "hold" by Wall Street Zen, while BMO Capital Markets raised its target price from $20.00 to $26.90.
• SpartanNash recently reported earnings of $0.35 per share, missing estimates, with revenues of $2.91 billion, and announced a quarterly dividend of $0.22, indicating a dividend yield of 3.3%.

Mackenzie Financial Corp increased its stake in SpartanNash Company (NASDAQ:SPTN - Free Report) by 133.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,915 shares of the company's stock after acquiring an additional 47,397 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of SpartanNash worth $1,680,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SPTN. Raymond James Financial Inc. acquired a new stake in shares of SpartanNash in the fourth quarter valued at about $319,000. GAMMA Investing LLC raised its stake in SpartanNash by 8.5% during the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after buying an additional 636 shares in the last quarter. SG Americas Securities LLC acquired a new position in SpartanNash in the first quarter worth $426,000. AXA S.A. grew its position in shares of SpartanNash by 465.1% during the 4th quarter. AXA S.A. now owns 58,354 shares of the company's stock valued at $1,069,000 after buying an additional 48,028 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SpartanNash by 40.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,650 shares of the company's stock worth $1,423,000 after purchasing an additional 22,223 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Trading Up 0.2%

SPTN stock traded up $0.06 during mid-day trading on Thursday, reaching $26.61. 336,044 shares of the stock traded hands, compared to its average volume of 496,349. The stock's fifty day moving average is $23.81 and its 200-day moving average is $20.99. SpartanNash Company has a 52-week low of $17.30 and a 52-week high of $26.69. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. The company has a market cap of $900.58 million, a P/E ratio of -83.14 and a beta of 0.46.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, sell-side analysts expect that SpartanNash Company will post 1.79 earnings per share for the current year.

SpartanNash Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. SpartanNash's dividend payout ratio is presently -275.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPTN shares. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and issued a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.